Common use of Initial Period of Exercisability Clause in Contracts

Initial Period of Exercisability. The Option will become exercisable with respect to the Option Shares [immediately/in installments]. [The following table sets forth the initial dates of exercisability of each installment and the number of Option Shares as to which this Option will become exercisable on such dates: [The foregoing rights to exercise this Option will be cumulative with respect to the Option Shares becoming exercisable on each such date.] In no event will this Option be exercisable after, and this Option will become void and expire as to all unexercised Option Shares at 5:00 p.m. Lincolnshire, Illinois time on (the “Time of Termination”).

Appears in 4 contracts

Samples: Incentive Stock Option Agreement (Biosante Pharmaceuticals Inc), Non Statutory Stock Option Agreement (Biosante Pharmaceuticals Inc), Non Statutory Stock Option Agreement (Biosante Pharmaceuticals Inc)

AutoNDA by SimpleDocs

Initial Period of Exercisability. The Option will become exercisable with respect to the Option Shares [immediately/in installments]. [The following table sets forth the initial dates of exercisability of each installment and the number of Option Shares as to which this Option will become exercisable on such dates: ] [The foregoing rights to exercise this Option will be cumulative with respect to the Option Shares becoming exercisable on each such date.] In no event will this Option be exercisable after, and this Option will become void and expire as to all unexercised Option Shares at 5:00 p.m. Lincolnshire, Illinois time on (the “Time of Termination”).

Appears in 2 contracts

Samples: Incentive Stock Option Agreement (Biosante Pharmaceuticals Inc), Non Statutory Stock Option Agreement (Biosante Pharmaceuticals Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!